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, <br /> Lessor the sum of One Mandrel and Twenty Dollars ($120.00) upon <br /> receipt of a duly executed stock transfer order directing fermiers <br /> Reservoir and Irrigation Company to transfer the water <br /> appurtenant to the leased Shares to the Lessee's headgate. <br /> S. Notices required or desired to be given hereunder shall <br /> be delivered in person or wailed certified sail, cotton receipt <br /> requested as follows' <br /> • <br /> Lessor: Lessees <br /> Thomas R. Ferber City Administrator <br /> ' d777 Wedaworth blvd. City of Louisville <br /> Suits l02•A 749 Main Street <br /> Arvada, CO 40001 Louisville, CO $0027 <br /> or to such other addresses, notice of which are provided in the <br /> same manner. <br /> I. Time is of the essence hereof, end if any payment or <br /> other condition hereof is not Made, tendered or performed by <br /> either the Lessor or the Lessee as herein provided, then this <br /> agreement, at the option of the party who is not in default, may <br /> be terminated by such party, in which case the non-defaulting <br /> party may recover such damages as may be proper. In the event of <br /> default by the Lessee, any payments made hereunder shall be <br /> retained by the Lessor as liquidated damages. Nothing herein <br /> shall be construed to prevent an action for specific performance <br /> of this agreement. <br /> 7. The Lessee covenants that at the expiration of the <br /> Lease ps■ceabis possession of sai4 Miter rights shall be given up <br /> to Lessor. <br /> S. If any judicial proceeding may hereafter be brought to <br /> enforce any of the provisions hereof, including an action for <br /> damages or specific performance, the prevailing party shall be <br /> entitled to recover the costs of such proceeding including <br /> reasonable attorney's fees. <br /> Ill M7? US MRAUOF, the parties hereto have executed the <br /> • foregoing in duplicate original counterparts the day and Year <br />